Stratus Media Group Secures Ninety Five Percent Ownership of ProElite, Inc.
Stratus Media Group to Relaunch ProElite Events in 2011 Third Quarter
SANTA BARBARA, Calif. -- June 15, 2011
Stratus Media Group, Inc. (OTCBB:SMDI), a live entertainment company,
announced today that it has concluded its acquisition of ProElite, Inc.
(PK:PELE), an entertainment and media company involved in the development,
production, and promotion of mixed martial arts (MMA). Stratus now owns ninety
five percent of ProElite.
“This acquisition provides the resources and abilities ProElite needs in order
to focus on strengthening and repositioning its world class MMA fighting
platform in addition to the brand itself,” stated Paul Feller, President and
CEO of Stratus. “Under the new SMDI Action Sports Vertical, ProElite is
launching a series of MMA events that will bring a new vitality to the
business of MMA and reestablish ProElite as a leading international MMA
Founded in 2006, and running its first show in February 2007, ProElite quickly
became one of the most visible brands in mixed martial arts globally. ProElite
holds the record for highest ratings of an MMA event on a network telecast.
The company maintains its ownership stakes in South Korean-based Spirit MC and
British based Cage Rage. ProElite’s event strategy will continue its focus in
both domestic and international markets, welcoming fighters across all weight
classes to prove themselves in the cage. Details of ProElite’s upcoming events
schedule, fight card, and management team will soon be announced.
About ProElite, Inc.
Based in Los Angeles, California, ProElite is a significant stake holder in
Spirit MC in South Korea and U.K. based Cage Rage MMA Organization. Founded in
2006, ProElite holds the record for highest ratings for a major network
telecast of an MMA event and showcases live international MMA fight events
where leading and promising up-and-coming MMA Fighters compete in the ring.
STRATUS MEDIA GROUP, INC.
Headquartered in Santa Barbara, CA, with offices in Los Angeles, California;
New York City, New York; Geneva, Switzerland; and Perugia, Italy, Stratus
Media Group, Inc. (SMDI) is an owner, operator, producer, and marketer of live
entertainment events. In addition, the company owns Stratus Rewards Visa White
Card, an ultra-exclusive consumer rewards marketing and redemption program,
providing premium redemption benefits to members in the form of VIP event
access, luxury trips, private jet travel, luxury automobiles, high-end
merchandise and other rewards.
Statements in this press release relating to plans, strategies, projections of
results, and other statements that are not descriptions of historical facts
may be forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and the Securities Acts of 1933 and 1934.
Forward-looking information is inherently subject to risks and uncertainties,
and actual results could differ materially from those currently anticipated
due to a number of factors. Although the company's management believes that
the expectations reflected in the forward-looking statements are reasonable,
it cannot guarantee future results, performance or achievements. The company
has no obligation to update these forward-looking statements.
Stratus Media Group, Inc.
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